Bank Product Reserve Amount definition

Bank Product Reserve Amount means, as of any date of determination, the Dollar amount of reserves that Agent has determined it is necessary or appropriate to establish (based upon the Bank Product Providers’ reasonable determination of their credit exposure to Parent and its Subsidiaries in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding.

Bank Product Reserve Amount means, as of any date of determination, the Dollar amount of reserves that Lender has determined it is necessary or appropriate to establish (based upon Lender’s reasonable determination of the credit and operating risk exposure to a Loan Party or any of its Subsidiaries in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding.

Bank Product Reserve Amount means, as of any date of determination, the Dollar amount of reserves that Agent has reasonably determined it is necessary or appropriate to establish (based upon the Bank Product Providers’ reasonable determination of their credit exposure to Borrower in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding.

Examples of Bank Product Reserve Amount in a sentence

• If Agent chooses to implement a reserve, Specified Bank Products Provider acknowledges and agrees that Agent shall be entitled to rely on the information in the reports described above to establish the Bank Product Reserve Amount.

• If Agent so chooses to implement a reserve, Specified Bank Products Provider acknowledges and agrees that Agent shall be entitled to rely on the information in the reports described above to establish the Bank Product Reserve Amount.

• In addition, Agent shall not be obligated to establish or increase a Bank Product Reserve for any Bank Product unless, after giving effect to such establishment or increase, the sum of the Bank Product Reserves established for all Bank Products does not exceed the Aggregate Bank Product Reserve Amount.

• Without limiting the foregoing, Agent may establish (i) the Canadian Priority Payables Reserves, (ii) reserves in an amount equal to the Aggregate Bank Product Reserve Amount, and (iii) unless Agent has received a Collateral Access Agreement with respect to the Loan Parties' chief executive office, a reserve in an amount equal to 3 months rent payable under the lease for such property.

• Borrower hereby authorizes Agent from time to time to debit (by ACH or otherwise) from any Borrower Account all interest and fees (when due and payable), the fees and costs provided for in Section 2.13 (as and when accrued or incurred), and all other payments as and when due and payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable to the Bank Product Providers in respect of Bank Products up to the Bank Product Reserve Amount).

More Definitions of Bank Product Reserve Amount

Bank Product Reserve Amount means, as of any date of determination, the Dollar amount of reserves that Agent has determined it is necessary or appropriate to establish (based upon the Bank Product Providers’ reasonable determination of their credit exposure to Borrower and its Subsidiaries in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding; provided, however, that such amount shall at no time exceed (a) five percent (5%) of the Maximum Revolver Amount at such time, or (b) $15,000,000.

Bank Product Reserve Amount means, as of any date of determination, the sum of (i) the aggregate undrawn amount of all letter of credits that constitute Bank Product Obligations outstanding at such time, plus (ii) the aggregate amount of all drawings under letters of credit that constitute Bank Product Obligations for which a Bank Product Provider has not been reimbursed.

Bank Product Reserve Amount means, as of any date of determination, the lesser of: (a) (i) until the Interim Block is reduced to $0, $10,000,000 and (ii) at all times thereafter, $12,500,000, and (b) the Dollar amount of reserves that Agent has established (based upon the Bank Product Providers’ reasonable determination of the credit exposure of Parent and its Subsidiaries in respect of each such Bank Product determined, in consultation with Administrative Borrower, at the time that such Bank Product is initially provided hereunder) in respect of Bank Products then provided or outstanding.

Bank Product Reserve Amount means, as of any date of determination, the U.S. dollar amount of (a) the Current Hedge Exposure and (b) reserves that Agent has determined it is necessary or appropriate to establish in respect of Bank Products other than Hedge Agreements then provided or outstanding.

Bank Product Reserve Amount means, as of any date of determination, the Dollar amount of reserves that Agent has determined in its Permitted Discretion (in any event not to exceed the Bank Product Obligations outstanding on such date of determination) it is necessary or appropriate to establish (based upon the Bank Product Providers’ reasonable determination of their credit exposure to the Loan Parties in respect of Bank Product Obligations, which, in the case of Hedge Obligations, shall be determined on, and may not exceed, a mark-to-market basis or pursuant to such other methodology as may be set forth in the applicable Hedge Agreement) in respect of Bank Products then provided or outstanding; provided, that, no reserves shall be imposed with respect to any Hedge Agreement or any Hedge Obligations to the extent such Hedge Agreement or Hedge Obligations are (a) unsecured or (b) secured by assets other than assets included in the Borrowing Base.

Bank Product Reserve Amount means, as of any date of determination, the Dollar amount of reserves that CPC has determined is necessary or appropriate to establish (based upon the Bank Product Providers’ reasonable determination of their credit exposure to Borrower in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding.

Bank Product Reserve Amount means, as of any date of determination, the Canadian Dollar amount of reserves that Lender has determined it is necessary or appropriate to establish (based upon Lender’s reasonable determination of the credit and operating risk exposure to each Loan Party and its Subsidiaries in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding.